The India Policy Forum (IPF) is an annual publication dedicated to analysing contemporary trends in the Indian economy. Its objective is to carry theoretically rigorous yet empirically-informed research on current issues related to India’s economic policy. A joint publication of NCAER and Brookings Institution, the IPF serves as the forum for a global network of scholars interested in India’s economic transformation. This Volume has been edited by Suman Berry, Barry Bosworth and Arvind Panagariya.